Kohl's Accused Of Inflating Stock In Investor Class Action

Law360, Los Angeles (July 24, 2013, 10:14 PM EDT) -- Kohl's Corp. was hit with a proposed class action Wednesday in New York federal court by a group of investors claiming the corporation inflated the price of its common stock by making false and misleading statements regarding its financial results.

According to the complaint, Kohl's and its top executives violated the Exchange Act by deliberately understating the corporation's reported debt, equity and leverage ratios from 2009 to 2011, causing the price of its common stock to plummet when it disclosed the alleged discrepancies.

"During the class...
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